South Korean travelers have ranked Singapore and Japan as the most secure and comfortable countries to travel in the world. These two countries were ranked first and second, respectively, not only for their safety and security but also for their overall pleasant travel infrastructure, including clea
It has been revealed that the hourly wages of domestic helpers in South Korea are more than four times higher than in neighboring countries such as Hong Kong and Taiwan. In an effort to alleviate the burden of caregiving services, which is considered one of the causes of low birth rates, the Bank of
For four consecutive years, South Korea has maintained its position as the top country among 34 advanced and emerging markets worldwide in terms of household debt relative to gross domestic product (GDP). As of the end of last year, the ratio stood at 100.1 percent, slightly lower than the previous
Doosan Enerbility is expanding its metal additive manufacturing (AM) business, which has been growing in the power generation and defense sectors, into the shipbuilding sector.Metal additive manufacturing is a technology that manufactures metal material parts by stacking metal powder layer by layer,
CJ Logistics announced on Feb. 22 that it has established an integrated logistics center for the globally renowned shoe brand Crocs in Icheon, Gyeonggi Province.Spanning an area of 20,000 square meters, the new facility can handle up to 50,000 boxes per day, doubling the capacity compared to the pre
HD Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding holding company of HD Hyundai, recently announced that it has signed a memorandum of understanding with Woodside Energy, Australia’s largest energy company; Hyundai Glovis; and Mitsui O.S.K. Lines (MOL), a Japanese global shipping c
The European Union (EU)’s decision to approve a Korean Airlines-Asiana Airlines merger is fast approaching, drawing more attention from the airline industry. While many experts believe that approval will be given with some conditions, a formal outcome has not come out, keeping both airlines on edge.
Korea’s four major oil refiners are posting a gradual drop in their exports to China. They are diversifying their export destinations to Australia, Japan, and other countries to fill the void. China used to be Korea’s top petroleum product export market.According to the Korea National Petroleum Asso
South Korea has emerged as the leader in mobile communication speed among major countries in the Asia-Pacific region, with its 5G technology also ranked as the fastest globally.According to OpenSignal, a British market research firm, South Korea recorded the fastest mobile download speed of 140.2 Mb
The Korea Investment Corporation (KIC) announced on Jan. 29 that it has established its fifth overseas hub, following the opening of offices in New York, London, Singapore, and San Francisco.The new hub is the Mumbai office in India, marking the KIC’s first overseas presence in an emerging market. T
Following the election of an anti-China candidate in the Taiwanese presidential election, the geopolitical risks associated with Taiwan, a central player in the global semiconductor supply chain, have elevated the roles of Southeast Asian countries like Malaysia, Singapore, and Vietnam as new global
Hanjin announced on Jan. 26 that it will expand its overseas bases to a total of 42 this year to foster its global business.This year, Hanjin will establish 17 subsidiaries and a total of 42 bases in 22 countries including Thailand, Bangladesh, Morocco, and Hungary to build a logistics network conne
As international oil prices and refining margins both experienced a simultaneous decline in the fourth quarter of last year, the oil industry’s performance was once again placed in a state of emergency.In the worst-case scenario, four major oil companies -- SK Energy, GS Caltex, S-Oil, and HD Hyunda
KT has announced its plans to construct a new submarine cable to meet the surging demand for cloud, big data, and internet traffic between Asian countries. On Jan. 24, KT signed a memorandum of understanding (MOU) for the Asia Link for advanced Performance of High-speed Access (ALPHA) project, aimed
Alipay+ announced that it has signed a memorandum of understanding (MOU) with the Korea Tourism Organization (KTO) on January 24 to together revitalize inbound tourism and ensure a more convenient and seamless checkout experience for international tourists visiting in the country.Under the MOU, the
Representatives of foreign chambers in South Korea, including those from the United States, Europe, and Japan, have proposed plans for improvement to boost investment in South Korea.The Korea Chamber of Commerce and Industry (KCCI) held the “2024 Foreign Chamber Day: Meeting with Foreign Chambers in
Celltrion Group has successfully sold the Asia-Pacific (APAC) “Primary Care” business rights, which it acquired from multinational pharmaceutical company Takeda Pharmaceuticals (hereafter Takeda) in 2020, after three years.On Jan. 18, Celltrion concluded a contract with Dong-A Pharmaceutical for the
SK telecom announced on Jan. 17 that it has signed a memorandum of understanding (MOU) with Vetology Innovations of the United States, targeting the U.S. market with its product, named X Caliber, during the world’s largest veterinary event, VMX2024, currently underway in the U.S.X Caliber is a diagn
Iljin Electric disclosed on Jan. 16 that it secured a contract with Malaysia’s state-owned electricity utility, Tenaga Nasional Berhad (TNB), on Jan. 9. The US$36 million contract involves the supply of materials and connection construction for a 52.4 km, 275 kV high-voltage underground cable projec
The police have referred individuals connected to Fidelis Asset Management, including its CEO, who are under suspicion for the improper sale of the “Fidelis Fund,” to the prosecution.The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency announced that three individuals, incl